Medtronic, Cook Medical Lead European Peripheral Vascular Market due to Increased Use of Transcatheter Embolization Devices
August 22, 2016 (PRLEAP.COM) Health NewsAugust 22, 2016 - Vancouver, BC – According to a new series of reports on the European peripheral vascular device market by iData Research (www.idataresearch.com), the transcatheter embolization device market is expected to be the fastest growing segment, increasing at double-digit rates by 2022. The strong growth in this market is a result of the increase in usage of radiolabeled and drug-eluting beads as well as the increasing penetration rate of detachable embolization coils. The transcatheter embolization device market is expected to become the second largest segment of the total European peripheral vascular devices market by 2022. The stent market is currently the largest segment representing almost 25% of the total European peripheral vascular device market.
"The high rate of PAD and restenosis, which requires further vascular intervention, is driving growth in this segment," explains Dr. Kamran Zamanian, CEO of iData. "However, declining growth in particular segments, such as carotid and renal stents, as well as slower growth in the premium-priced covered stents market has led to tempered growth in comparison to the near double-digit growth recorded in the mid- to late-2000s."
Medtronic is the leading competitor in the European market for peripheral vascular devices. Medtronic's overall market share increased significantly in 2015 following the completion of the acquisition of Covidien. Prior to the acquisition, Covidien was a leading competitor in the peripheral vascular market with strong product portfolios in the stent, atherectomy, EPD device and transcatheter embolization markets. Their products include the Onyx® Liquid Embolic System and the Concerto™ detachable coil system.
In the atherectomy device market, Covidien (Medtronic) holds a substantial share but continues to face pressure from Cardiovascular Systems Inc., which has been posting strong revenue growth in atherectomy device sales. Covidien (Medtronic) has been aggressively pursuing expansion into the PTA balloon market, as indicated by the acquisition of CV Ingenuity, a company working on the development of drug-coated balloons.
Cook Medical is the second leading competitor in the European peripheral vascular device market. Cook Medical markets many peripheral vascular devices, including stents, PTA balloons, stent grafts, catheters, guidewires, introducer sheaths, transcatheter embolization devices and has been leading the overall inferior vena cava filter market in 2016. Additional competitors in the European peripheral vascular device market include Boston Scientific, Cardinal Health, Abbott Laboratories, W. L. Gore, C. R. Bard, Terumo, St. Jude Medical, Straub Medical, Maquet, and Biotronik among others.
For Further Information
More on the peripheral vascular device market in Europe can be found in a series of reports published by iData Research entitled the European Market Report Suite for Peripheral Vascular Devices. The suite covers reports on the following markets: Peripheral Vascular Stents, Percutaneous Transluminal Angioplasty Balloon Catheters, Atherectomy Devices, Chronic Total Occlusion Devices, Embolic Protection Devices, Stent-Grafts, Surgical Grafts, Arteriovenous Access Thrombectomy Devices, Inferior Vena Cava Filters, Diagnostic and Interventional Catheters, Standard and Hydrophilic Guidewires, Introducer Sheaths, Vascular Closure Devices and Transcatheter Embolization Devices.
The iData report series on peripheral vascular devices covers the U.S. and 15 countries in Europe including Austria, Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom. Reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players' success strategies in each market and segment. To find out more about peripheral vascular market data or procedure data, register online or email us at firstname.lastname@example.org for a European Market Report Suite for Peripheral Vascular Devices brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Laparoscopy, Urology, Gynecology, Vascular Access, Endoscopy, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large & Small Joints, Anesthesiology, Wound Management, Orthopedics, Ophthalmics, Dental Operatory Equipment and more.